About 3:30 p.m. in Taos, New Mexico, my mother called me into the living room to look through the window. There was a Bright "star". Then we saw it slowly but surely moving to the north. It was in the east. We looked through binoculars and saw red, green, white, yellow and blue lights. it was an oblong or disk shape. It was moving pretty fast. We tried to take pictures. My camera made some weird sounds and shut down after 4 shots. My mother, me, and my stepfather observed it for mare than an hour. We found it was too late and went to bed. But right before we left, we saw it bouncing around through the binoculars. I also thought i saw something bright shoot from the "ufo." There was a slight haze around the object and it left a tiny trail. At time the object owuld also change light colors. We also saw an airplane race toward it. But then the airplane shifted lower, below the object.